Royal Business Bank Mortgage Rates, Fees & Info

Los Angeles, CA

LEI: 5493003B20KZ3DEZGB43

Tax ID: 26-0339713

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Royal Business Bank is a smaller bank specializing in Home Purchase loans. Royal Business Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Los Angeles, Chicago, Riverside, and San Diego among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)

Royal Business Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Royal Business Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.49%	4/18/24
30 Year Conventional Refi	6.45%	4/18/24
30 Year Cash-out Refi	6.70%	4/18/24
15 Year Conventional Purchase	5.96%	4/18/24
15 Year Conventional Refi	5.92%	4/18/24
15 Year Cash-out Refi	5.92%	4/18/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Royal Business Bank Mortgage Calculator

Purchase Price:

Loan Amount:

Deposit Amount:

% Deposit:

Interest Rate:

Loan Type:

Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Royal Business Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

793

Origination Dollar Volume (All Markets)

$389,395,000

Employee count

355

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market	Originations	Total Value	Average Loan	Average Fees	Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	433	$209,695,000	$484,284	$8,354	4.67%
Los Angeles-Long Beach-Anaheim, CA (FHA\|USDA\|VA)	108	$72,780,000	$673,889	$5,413	4.85%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	174	$35,820,000	$205,862	$6,403	5.11%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA\|USDA\|VA)	22	$13,580,000	$617,273	$5,435	5.30%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA\|USDA\|VA)	5	$12,665,000	$2,533,000	$0	5.83%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA\|USDA\|VA)	9	$6,305,000	$700,556	$3,705	5.38%
San Francisco-Oakland-Berkeley, CA (FHA\|USDA\|VA)	10	$5,920,000	$592,000	$6,422	5.33%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA\|USDA\|VA)	4	$4,760,000	$1,190,000	$4,180	5.59%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA\|USDA\|VA)	8	$4,080,000	$510,000	$4,498	4.27%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA\|USDA\|VA)	3	$3,915,000	$1,305,000	$7,527	5.33%
CHICO, CA (FHA\|USDA\|VA)	1	$3,175,000	$3,175,000	$0	4.85%
CHARLESTON-NORTH CHARLESTON, SC (FHA\|USDA\|VA)	1	$2,665,000	$2,665,000	$0	5.50%
Brookings, OR (FHA\|USDA\|VA)	1	$2,315,000	$2,315,000	$0	5.25%
Seattle-Tacoma-Bellevue, WA (FHA\|USDA\|VA)	1	$2,005,000	$2,005,000	$10,101	5.25%
MERCED, CA (FHA\|USDA\|VA)	1	$2,005,000	$2,005,000	$0	5.28%
Henderson, NC (FHA\|USDA\|VA)	1	$1,695,000	$1,695,000	$0	5.50%
Red Bluff, CA (FHA\|USDA\|VA)	2	$1,340,000	$670,000	$0	5.14%
LAKE HAVASU CITY-KINGMAN, AZ (FHA\|USDA\|VA)	1	$1,105,000	$1,105,000	$0	5.25%
BAKERSFIELD, CA (FHA\|USDA\|VA)	1	$655,000	$655,000	$0	5.75%
SANTA MARIA-SANTA BARBARA, CA (FHA\|USDA\|VA)	1	$645,000	$645,000	$0	5.75%
HANFORD-CORCORAN, CA (FHA\|USDA\|VA)	1	$545,000	$545,000	$0	5.25%
MODESTO, CA (FHA\|USDA\|VA)	1	$455,000	$455,000	$0	5.38%
STOCKTON, CA (FHA\|USDA\|VA)	1	$435,000	$435,000	$0	5.88%
VALLEJO, CA (FHA\|USDA\|VA)	1	$385,000	$385,000	$4,964	4.75%
REDDING, CA (FHA\|USDA\|VA)	1	$255,000	$255,000	$0	5.38%
FRESNO, CA (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	5.38%

Royal Business Bank's top markets include New York, Los Angeles, Chicago, Riverside, and San Diego among others.

Their top states include:

New York (FHA|USDA|VA)

California (FHA|USDA|VA)

Illinois (FHA|USDA|VA)

Nevada (FHA|USDA|VA)

South Carolina (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Royal Business Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	793	$389,395,000	$491,040	$7,189	4.85%

For 2019, Royal Business Bank's most frequently originated type of loan was Conventional, with 793 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	653	$295,065,000	$451,861	$7,334	4.86%
Refi	71	$58,935,000	$830,070	$4,024	4.66%
Cash Out Refi	35	$21,165,000	$604,714	$10,378	4.66%
Other	23	$10,875,000	$472,826	$6,275	5.04%
Home Improvement	11	$3,355,000	$305,000	$4,575	5.57%

For 2019, Royal Business Bank's most frequently cited loan purpose was Home Purchase, with 653 originations. The 2nd most popular reason was Refi, with 71 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	689	$318,305,000	$461,981	$7,207	4.80%
15 Year	35	$9,405,000	$268,714	$6,532	4.44%
10 Year	24	$20,460,000	$852,500	$5,256	5.47%
5 Year	17	$15,175,000	$892,647	$0	5.73%
20 Year	13	$3,695,000	$284,231	$6,935	5.02%
Other	11	$11,095,000	$1,008,636	$0	6.08%
1 Year	4	$11,260,000	$2,815,000	$0	6.56%

For 2019, Royal Business Bank's most frequently cited loan duration was 30 Year, with 689 originations. The 2nd most popular length was 15 Year, with 35 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	182	$72,260,000	$397,033
$2k-3k	92	$19,960,000	$216,957
$5k+	91	$58,345,000	$641,154
$3k-4k	62	$19,540,000	$315,161
$4k-5k	50	$18,040,000	$360,800
$<1k	27	$10,445,000	$386,852

Royal Business Bank's average total fees were $7,207, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 182 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	341	$149,755,000	$439,164
5-6%	304	$152,390,000	$501,283
3-4%	127	$57,045,000	$449,173
6-7%	20	$29,750,000	$1,487,500
7-8%	1	$455,000	$455,000

During 2019, Royal Business Bank's average interest rate for loans was 4.80%, while their most frequently originated rate bucket for loans was 4-5%, with 341 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	294	$89,180,000	$303,333	$6,096	4.83%
$400k-600k	199	$95,375,000	$479,271	$8,390	4.70%
$100k-200k	125	$18,835,000	$150,680	$5,722	4.98%
$600k-1MM	111	$80,815,000	$728,063	$10,362	4.76%
$1MM+	51	$104,105,000	$2,041,275	$12,748	5.37%
$100,000 or less	13	$1,085,000	$83,462	$5,301	5.13%

2019 saw Royal Business Bank place emphasis on $200k-400k loans with 294 originations, totaling $89,180,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	217	$70,495,000	$324,862	$6,016	4.79%
$75k-100k	160	$54,330,000	$339,563	$6,897	4.89%
$100k-150k	131	$58,305,000	$445,076	$8,088	4.89%
$50k or less	126	$44,530,000	$353,413	$5,254	4.32%
$150k-250k	63	$38,715,000	$614,524	$10,460	4.99%
$250k+	40	$39,350,000	$983,750	$9,273	5.18%

Royal Business Bank lent most frequently to those with incomes in the $50k-75k range, with 217 originations. The second most popular income band? $75k-100k, with 160 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	124	$51,640,000	$416,452	$7,194	4.78%
20-30%	102	$35,540,000	$348,431	$6,141	4.80%
<20%	67	$32,215,000	$480,821	$6,341	4.45%
39%	41	$17,715,000	$432,073	$7,755	4.94%
37%	41	$17,235,000	$420,366	$8,422	5.07%
41%	41	$18,285,000	$445,976	$9,147	5.00%
42%	40	$20,010,000	$500,250	$8,425	4.87%
38%	35	$16,395,000	$468,429	$10,193	5.02%
36%	34	$13,670,000	$402,059	$6,657	5.08%
40%	31	$14,955,000	$482,419	$6,890	5.02%
46%	24	$11,200,000	$466,667	$5,657	4.48%
49%	24	$11,810,000	$492,083	$7,268	4.20%
47%	20	$7,870,000	$393,500	$6,859	4.36%
50-60%	17	$7,315,000	$430,294	$3,286	4.43%
45%	16	$6,440,000	$402,500	$6,039	4.41%
48%	15	$5,695,000	$379,667	$4,977	4.30%
44%	14	$5,580,000	$398,571	$6,233	4.49%
43%	12	$5,490,000	$457,500	$6,705	4.56%

Royal Business Bank lent most frequently to those with DTI ratios of 30-36%, with 124 originations. The next most common DTI ratio? 20-30%, with 102 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Asian	712	$291,390,000	$409,256	$7,253	4.81%
Not applicable	40	$69,090,000	$1,727,250	$0	5.74%
White	25	$13,525,000	$541,000	$7,628	4.87%
Not provided	10	$11,460,000	$1,146,000	$713	4.87%
Black	6	$3,930,000	$655,000	$1,812	4.23%

Approval Rates

Total approvals of all applications
95.38%

Royal Business Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
83.23%

Royal Business Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	793	$389,395,000	$491,040

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	6	$13,660,000	$2,276,667
Multifamily:Site-Built	28	$50,240,000	$1,794,286
Single Family (1-4 Units):Site-Built	759	$325,495,000	$428,847

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	69	$22,135,000	$320,797	$6,094	4.67%
40-60%	261	$125,475,000	$480,747	$7,396	4.86%
60-80%	422	$220,860,000	$523,365	$7,473	4.91%
80-100%	36	$18,690,000	$519,167	$4,433	4.47%
Under 20%	5	$2,235,000	$447,000	$6,613	4.98%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
Royal Pacific Funding Corporation	Conventional home mortgage	Closing on a mortgage	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Royal Business Bank	1015 S. Nogales Street, Unit 121 & 122a Rowland Heights, CA 91748	Full Service B&M	$202,056
Royal Business Bank	1055 Wilshire Blvd. Suite 1200 Los Angeles, CA 90017	Full Service B&M	$231,741
Royal Business Bank	11304 1/2 South Street Cerritos, CA 90703	Full Service B&M	$98,942
Royal Business Bank	123 East Valley Boulevard Suite 101 San Gabriel, CA 91776	Full Service B&M	$422,083
Royal Business Bank	1241 Grand Avenue, Suite K Diamond Bar, CA 91765	Full Service B&M	$82,767
Royal Business Bank	135-34 Roosevelt Avenue Flushing, NY 11354	Full Service B&M	$26,732
Royal Business Bank	14725 Jeffrey Road Irvine, CA 92618	Full Service B&M	$18,602
Royal Business Bank	1912 W Sunset Boulevard Los Angeles, CA 90026	Full Service B&M	$23,010
Royal Business Bank	2105 Sawtelle Blvd. Los Angeles, CA 90025	Full Service B&M	$15,936
Royal Business Bank	23740 Hawthorne Blvd. Suite 103 Torrance, CA 90505	Full Service B&M	$128,393
Royal Business Bank	238/240 Grand Street New York, NY 10002	Full Service B&M	$54,790
Royal Business Bank	29 Bowery New York, NY 10002	Full Service B&M	$103,722
Royal Business Bank	3366 E. Thousand Oaks Blvd. Westlake Village, CA 91362	Full Service B&M	$37,173
Royal Business Bank	3919 Spring Mountain Road Las Vegas, NV 89102	Full Service B&M	$125,774
Royal Business Bank	40-48 Main St Flushing, NY 11354	Full Service B&M	$94,648
Royal Business Bank	400 E. Esplanade Drive, Suite 105 Oxnard, CA 93036	Full Service B&M	$51,544
Royal Business Bank	4208 Main Street Flushing, NY 11355	Full Service B&M	$69,950
Royal Business Bank	5503 Eighth Avenue Brooklyn, NY 11220	Full Service B&M	$128,698
Royal Business Bank	5902 Eighth Avenue Brooklyn, NY 11220	Full Service B&M	$82,725
Royal Business Bank	700 West Garvey Avenue Monterey Park, CA 91754	Full Service B&M	$120,397
Royal Business Bank	86-55 Broadway Elmhurst, NY 11373	Full Service B&M	$55,662
Royal Business Bank	901 South Baldwin Avenue Arcadia, CA 91007	Full Service B&M	$105,310

For 2019, Royal Business Bank had 22 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$141,601
Net interest income	$104,437
Total noninterest income	$19,054
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,366
Trading account gains and fees	$0
Additional Noninterest Income	$17,688
Pre-tax net operating income	$64,204
Securities gains (or losses, -)	$7
Income before extraordinary items	$45,325
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$45,325
Minority interest net income	$0
Net income	$45,325
Sale, conversion, retirement of capital stock, net	$778
Net operating income	$45,319

Royal Business Bank's gross interest income from loans was $141,601,000.
Royal Business Bank's net interest income from loans was $104,437,000.
Royal Business Bank's fee based income from loans was $1,366,000.
Royal Business Bank's net income from loans was $45,325,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$37,164
Provision for credit losses	$2,390
Total noninterest expense	$56,897
Salaries and employee benefits	$32,909
Premises and equipment expense	$9,750
Additional noninterest expense	$14,238
Applicable income taxes	$18,886
Net charge-offs	$1,152
Cash dividends	$0

Royal Business Bank's interest expense for loans was $37,164,000.
Royal Business Bank's payroll and benefits expense were $32,909,000.
Royal Business Bank's property, plant and equipment expenses $9,750,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	1.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$2,284,743
Deposits held in domestic offices	$2,284,743
Deposits by Individuals, partnerships, and corporations	$2,211,225
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$7,852
Deposits by Commercial banks and other depository institutions in U.S.	$65,666
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$521,808
Demand deposits	$494,569
Nontransaction accounts	$1,762,935
Money market deposit accounts (MMDAs)	$412,753
Other savings deposits (excluding MMDAs)	$97,498
Total time deposits	$1,252,684
Total time and savings deposits	$1,790,174
Noninterest-bearing deposits	$494,569
Interest-bearing deposits	$1,790,175
Retail deposits	$1,620,272
IRAs and Keogh plan accounts	$19,800
Brokered deposits	$67,089
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$2,783,284
Cash & Balances due from depository institutions	$115,363
Interest-bearing balances	$80,564
Total securities	$134,401
Federal funds sold & reverse repurchase	$0
Net loans and leases	$2,352,308
Loan and leases loss allowance	$18,815
Trading account assets	$0
Bank premises and fixed assets	$16,813
Other real estate owned	$293
Goodwill and other intangibles	$81,746
All other assets	$82,360

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$2,783,285
Total Liabilities	$2,302,581
Total deposits	$2,284,743
Interest-bearing deposits	$1,790,175
Deposits held in domestic offices	$2,284,743
% insured (estimated)	$59
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$17,838

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$2,352,308
Loan and leases loss allowance	$18,815
Total loans and leases (domestic)	$2,371,123
All real estate loans	$2,090,245
Real estate loans in domestic offices	$2,090,245
Construction and development loans	$106,340
Residential 1-4 family construction	$32,536
Other construction, all land development and other land	$73,804
Loans secured by nonfarm nonresidential properties	$624,198
Nonfarm nonresidential secured by owner-occupied properties	$177,378
Commercial real estate & other non-farm, non-residential	$446,820
Multifamily residential real estate	$229,892
1-4 family residential loans	$1,129,815
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$158,584
To non-U.S. addressees	$0
Loans to individuals	$818
Credit card loans	$57
Related Plans	$0
Consumer Auto Loans	$761
Other loans to individuals	$0
All other loans & leases	$127,759
Loans to foreign governments and official institutions	$0
Other loans	$60,759
Loans to depository institutions and acceptances of other banks	$67,000
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$778
Non 1-4 family restructured loans & leases	$778
Total loans and leases (foreign)	$0

Royal Business Bank had $2,352,308,000 of loans outstanding in 2019. $2,090,245,000 of loans were in real estate loans. $106,340,000 of loans were in development loans. $229,892,000 of loans were in multifamily mortgage loans. $1,129,815,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $57,000 of loans were in credit card loans. $761,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	263	$95,694	$363,856
Nonfarm, nonresidential loans - <$100k	14	$512	$36,571
Nonfarm, nonresidential loans - $100-250k	95	$13,312	$140,126
Nonfarm, nonresidential loans - $250k-1MM	154	$81,870	$531,623
Commercial & Industrial, US addressed loans - <$1MM	347	$51,100	$147,262
Commercial & Industrial, US addressed loans - <$100k	154	$3,216	$20,883
Commercial & Industrial, US addressed loans - $100-250k	128	$11,862	$92,672
Commercial & Industrial, US addressed loans - $250k-1MM	65	$36,022	$554,185